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J
jlo480311
February 8, 2024
Question

How do i find the adjusted basis of home for a house i sold last year?

  • February 8, 2024
  • 1 reply
  • 0 views
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1 reply

AmyC
AmyC
Employee
February 8, 2024

For a home never used for business or rented, your purchase price, plus allowed purchase expenses plus improvements + plus selling expenses (like commission). 

 

For a rental, same as above and all depreciation allowable must be subtracted and unallowed losses added back.

 

For more, see About Publication 551, Basis of Assets

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